Nomura Securities Maintains a 'Buy' on Coach (COH); 2Q Preview
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Price: $39.90 --0%
Rating Summary:
18 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 18 | New: 20
Rating Summary:
18 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 18 | New: 20
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Nomura Securities maintains a 'Buy' on Coach (NYSE: COH) price target of $72.00.
Analyst, Paul Lejuez, said, "We expect COH to report strong 2Q (quarter ended Dec) results on 1/24, both in the US and internationally. We forecast a +5-7% comp in the US, China sales +70%, Japan sales +11-13% and wholesale sales up 2-4%. Our 1Q12E is $1.15 vs. consensus of $1.15, although we believe that there is upside potential. Management did not provide EPS guidance but indicated that it expects comps of at least +mid-single digits in F12. COH stock traded off the day TIF reported holiday sales (1/10), as TIF reported a significant slowdown in the US and Europe. However, we believe that COH is far less tied to Wall Street bonuses than TIF is. COH has strong momentum, impressive growth prospects and the best ROIC in retail, in our view. Our target price represents ~19x our calendarized F12E EPS ($3.74)."
For an analyst ratings summary and ratings history on Coach click here. For more ratings news on Coach click here.
Shares of Coach closed at $65.00 yesterday.
Analyst, Paul Lejuez, said, "We expect COH to report strong 2Q (quarter ended Dec) results on 1/24, both in the US and internationally. We forecast a +5-7% comp in the US, China sales +70%, Japan sales +11-13% and wholesale sales up 2-4%. Our 1Q12E is $1.15 vs. consensus of $1.15, although we believe that there is upside potential. Management did not provide EPS guidance but indicated that it expects comps of at least +mid-single digits in F12. COH stock traded off the day TIF reported holiday sales (1/10), as TIF reported a significant slowdown in the US and Europe. However, we believe that COH is far less tied to Wall Street bonuses than TIF is. COH has strong momentum, impressive growth prospects and the best ROIC in retail, in our view. Our target price represents ~19x our calendarized F12E EPS ($3.74)."
For an analyst ratings summary and ratings history on Coach click here. For more ratings news on Coach click here.
Shares of Coach closed at $65.00 yesterday.
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